How long do you keep paperwork for Pensions?

mae

I have so much pension info do I have to keep it or do I just keep the lastest statements? Or do you keep everything? I have already between me and my husband got so much paperwork for our pensions and our endowment surely I would haven far too much by then time we retire??

Trouble is evrytime I do get a statement it might as well be written in a foreign language so it means nothing to me either.

Any info appreciated.

Thanks

EdInvestor

Keep it. File it properly in date order.You will be happy you did this when you come to activate the pensions later.

missile

The item you throw away is sure to be the one you will be looking for next month or at least that's what I find. I keep all policy documents and statements but bin the "helpful" notes which come with them.

mae

Ok thanks I think I'll get a folder just for each of our pensions and one for the probably useless endowment. Next when they are all filed in date order is make some sense of them!!!! Nightmare we have contracted out ones and company ones its all so confusing and I have one from when I worked at the council for 5 years which looks like it will be worth nothing so whats the point. Joy oh joy.. I so need to get a handle on this..

Thanks for your replies.

missile

I use an XL spread sheet to list all of my money affairs and a secure file (there are a number of free programs - which serve as an electronic vault) to record all the policy numbers passwords and the like.

mae

missile wrote: »

I use an XL spread sheet to list all of my money affairs and a secure file (there are a number of free programs - which serve as an electronic vault) to record all the policy numbers passwords and the like.

Really? This sounds like a plan but I'm a numpty are there any simple guidlelines how how to get started doing this?

missile

Hi,
I guess you are not a computer geek? Do you have a copy of Microsoft XL? It really is an extremely powerful but very easy program to use. There is a tutorial built in. If you are really struggling, sent me a PM with your e mail and I will forward you a draft so you can input your own numbers.

If you have Windows Works there is a spread sheet in that or you could download any of a number of free spread sheets off the internet.

Maybe you will be interested in MS Money useful, see http://www.microsoft.com/money/freetrial_info.mspx

chesky369

A spreadsheet may well be useful; however, it's the background documents and letters which may in the end prove vital. I was in dispute recently with our pension administrators but was able to produce a letter from the pension trustees and amendment to the rules, dating back to 1993 which proved my case.

chesky369

A spreadsheet may well be useful but very often it's the background documents and letters which will help you most. I was recently in disput with my company's pension administrators but the fact that I was able to produce a letter from the pension trustees and an amendment to the pension rules, meant that I was able to prove my case.

chesky369

Sorry about that, something peculiar happened to my computer - thought the message hadn't gone, so re-did from memory.

mae

Thanks again everyone I have tonight put pensions, mine and husbands, endowments, and some gubbins about National Insurance in a folder with dividers and there is not actually as much paperwork as I thought once I had thrown away the letters and leaflets etc that come with them and its all dated back to 1992.It all fits easily all in one folder and to think I have had this massive jumbled pile of papers hanging aound all this time!!!!

I'm really proud of my little file even though I still don't know what much of it means :rolleyes: but at least when I get round to seeing a IFA I can give him my folder that is date ordered and sectioned into individual policies :A

Missile I will look into your suggestion as I would like to have a secure place for account numbers and passwords (end up with so many passwords due to the internet) it would help if any of my paperwork was ever stolen. Thank you. :T